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Republican field races to catch up to Bush fundraising

As the first big fundraising deadline of the 2016 White House contest approaches, the major Republican contenders are scrambling to secure the money needed to keep their political ambitions alive in a crowded and still growing field.

​​WASHINGTON — As the first big fundraising deadline of the 2016 White House contest approaches, the major Republican contenders are scrambling to secure the money needed to keep their political ambitions alive in a crowded and still growing field.

No one is likely to top former Florida governor Jeb Bush's fundraising even if he were to fall short of the $100 million target that his allies have predicted he will hit.

Aided by billionaire supporters, however, some of Bush's Republican rivals have begun to tout their big hauls ahead of Tuesday's deadline, which marks the end of the April-to-June fundraising quarter.

Texas Sen. Ted Cruz may be best positioned to claim the No. 2 spot among Republicans. Cruz, a conservative firebrand who became the first major candidate to enter the race, said he has raised more than $40 million through his campaign and the super PACs supporting his candidacy.

"The Washington money isn't with us," the first-term senator told USA TODAY's Capital Download. "It comes from courageous conservatives all over the country."

Among the conservatives who have emerged as Cruz supporters: New York hedge-fund magnate Robert Mercer, whose name has surfaced as the major donor to a network of four pro-Cruz super PACs that raised more than $30 million in less than a week.

Super PACs can collect unlimited amounts, but federal law bars these groups from working closely with campaigns.

Wisconsin Gov. Scott Walker has not yet declared his candidacy, but the outside groups supporting his expected bid are close to achieving their goal of collecting $20 million by end of the fundraising deadline, according to a person familiar with the fundraising activity but who was not authorized to discuss the figures publicly.

The organization, which does not have to disclose its donors, began a $1 million advertising campaign Monday that highlights Rubio's opposition to a nuclear deal among the United States, Iran and five other countries.

Rubio "certainly will have enough money to keep him going in the future," said Anthony Gioia, a retired businessman from Buffalo, N.Y., who will co-host a fundraiser for Rubio in August.

Gioia, a top fundraiser for President George W. Bush who was named ambassador to Malta during the Bush administration, said he feels "great loyalty" to the former president. But Gioia said he is drawn to Rubio's foreign-policy positions, his public-speaking style and his compelling personal story as the child of Cuban immigrants.

"He's the personification of the American Dream," Gioia said of Rubio. "He's got enormous upside potential. He's not from a dynasty that the media will use against him."

Walker also has sought to position himself as the alternative to Bush among the party's elite donors, many of whom contributed heavily to help him survive a 2012 recall election.

"We don't have to win the money race, but we have to be in the thick of it and be able to compete," said Keith Gilkes, a key Walker ally. Gilkes, Walker's former chief of staff, oversees a pro-Walker super PAC, dubbed the Unintimidated PAC.

Many veteran fundraisers, however, say Bush remains in the best position to sustain a financial advantage over the long haul of a presidential campaign.

"All the heavyweights went with Jeb in Chicago," said Bill Kunkler, a Chicago private-equity executive who backed Mitt Romney's presidential bid in 2012. Kunkler now is raising money for Bush's campaign and already has written a $25,000 check to a pro-Bush super PAC.

"Part of it is the early bid gets the worm," said Kunkler, who first met with Bush in December 2013. "He courted people."

"This is a guy who is the complete deal," Kunkler added. "Jeb presents himself as presidential."

Fred Malek, a top Republican fundraiser who is neutral in the presidential contest, said it's hard to build a campaign around a single donor or two.

"If you have one very large contributor constituting a major part of your total, you wonder whether it will be meaningful in the long run," Malek said. "There's a deep reservoir there that Bush can keep going back to; therefore, it's more sustainable."